Value Creation is the driver of injecting Intangible Assets into a company’s business organization. The generation of a tactical plan directing value creation will result in the strengthening of areas such as knowledge, people, branding, Intangible Assets, customers, etc. Results will be seen across the organization and in the overall operational output of the company, typically reflected in the financial statements.
Knowledge Management is the collection of insights and experiences within an organization. Such insights and experiences may comprise in the knowledge of individuals or in general processes and practices. This knowledge can additionally be spread through efforts such as R&D, operations, finance human resources, IT, engineering, etc. Knowledge Management is widely utilized by organizations in developing its Tactical and Strategic Planning efforts. Objectives such as innovation, competitive advantages, continuous improvement, and lessons learned are common areas of focus.
The challenge of many organizations is the sharing and utilization of knowledge acquired over time. It is not uncommon, especially in larger organizations, to duplicate efforts, unaware of previous knowledge obtained or derived.
At BUSINESS INTANGIBLES™, we assist in establishing a common understanding of what Knowledge Management entails, its meaning, and how it can be embedded across the organization. By building an environment that encourages sharing knowledge, tools can be set in place to publish and easily access information.
The amount of time required to develop a product into the marketplace is typically lengthy. An option to reduce the timeframe to market is utilizing open market innovation. This can be in the form of an existing developed technology available for purchase or license. The result greatly reduces the time to market and may be financially beneficial verses internal R&D costs. Exchanges are available to bring together such parties. This option can fit well into a value creation tactical plan.
At BUSINESS INTANGIBLES™, we assist in your search for available Intellectual Property. If you are intending to purchase or license, we can assess the value of the asset and establish a fair market price. This will be calculated based on need, length of usage, and exclusivity of the resource.
Customer Management can be placed into three categories: alignment of segments which customers fall into, retention and loyalty to retain current customers, and growth to attract or entice new customers. The development of lifetime customer value is a crucial aspect for holding customers over a long period. Having a base of valued lifetime customers opens greater opportunities to entice new customers, generate loyalty, and create additional valued lifetime customers.
At BUSINESS INTANGIBLES™, we work to identify high valued customers, those with the highest potential value. A Value Creation plan will implement a strategic validation of customer’s value and generate successful customer groups.
In many types of industries, Human Capital is the most valued asset in a company’s portfolio. Without people, assets cannot be created internally. The development of workforce as value creation enhances other capital avenues such as knowledge, Intellectual Property, innovation, and customers. Investments in the training and education of employees generate returns in the financial statements, creating a positive Return on Investment (ROI). An informed and trained workforce is more likely to be satisfied with their contribution, allowing for a high employee retain rate. With lower employee turnover, less cost is expended in the recruitment and initial training of replacement employees.
At BUSINESS INTANGIBLES™, we review your overall current workforce, assist in establishing communication lines across levels, and recommend employee training to create positive ROI. Additional benefits are seen in improved efficiencies, increased creative ideas, and overall employee satisfaction.
Branding is a strong value creation tool a company uses to inject their products or service into the marketplace. A brand can be considered as a promise of value. This is a promise directed toward the customer that the product or service delivered will align with the presumption and advertised cost. Brand Management has expanded from primarily local individual relationships to mass communications with a global view. The utilization of IT has expanded the network reach of the organization, driving brand and creating value into the market.
At BUSINESS INTANGIBLES™, we work with you on a branding plan and getting your message into the right hands that will place favorable emphasis on your company, products, or services.
An organization that can successfully manage Intangible Assets, is in turn, a valuable Intangible Asset and a leader of Value Creation. The term Organizational Capital describes a business arrangement and managerial structure that gives a company distinctive capabilities to compete. For the organization which generates this form of Value Creation, it is of significant value. In many cases, organization management has emerged as one of the more valuable assets today.
At BUSINESS INTANGIBLES™, we work with your management team to develop a cohesive plan of Value Creation. By managing Organizational Capital, the Tactical and Strategic Plans enhance the company’s generation of success.